36. Off-balance sheet liabilities

Off-balance sheet liabilities of the Group comprise:

  • Loan commitments

    The amounts and deadlines by which the Group will be obliged to realise its off-balance sheet liabilities by granting loans or other monetary services are presented in the table below.

  • Guarantees and other financial facilities

    Guarantees are presented in the table below based on the earliest contractual maturity date.

  • Operating lease liabilities

    Where a company of the Group is a lessee, the minimum future lease payments as part of irrevocable operating lease agreements are presented in the table below.

The following table presents the Group’s off-balance sheet commitments granted and received as well as nominal value of open positions of derivative transactions as at 31 December 2014 and 31 December 2013.

 

 
31.12.2014 Up to 1 year 1 - 5 years Over 5 years Total
1. Contingent liabilities granted and received 21 045 084 3 148 607 1 064 279 25 257 970
     Commitments granted 20 137 683 2 697 004 764 386 23 599 073
       1. Financing 17 907 669 1 527 842 538 455 19 973 966
           a) Loan commitments 17 883 271 1 446 946 538 455 19 868 672
           b) Operating lease commitments 24 398 80 896 - 105 294
       2. Guarantees and other financial facilities 2 215 614 1 168 832 225 931 3 610 377
           a) Banker's acceptances 8 998 - - 8 998
           b) Guarantees and standby letters of credit 2 200 258 1 168 832 225 931 3 595 021
           d) Documentary and commercial letters of credit 6 358 - - 6 358
       3. Other commitments 14 400 330 - 14 730
     Commitments received 907 401 451 603 299 893 1 658 897
           a) Financial commitments received 31 841 - - 31 841
           b) Guarantees received 875 560 451 603 299 893 1 627 056
2.

Derivative financial instruments
(nominal value of contracts)

389 808 426 320 238 073 44 130 546 754 177 045
       1. Interest rate derivatives 336 245 647 298 811 916 42 316 818 677 374 381
       2. Currency derivatives 52 979 729 20 736 915 1 716 118 75 432 762
       3. Market risk derivatives 583 050 689 242 97 610 1 369 902
      Total off-balance sheet items 410 853 510 323 386 680 45 194 825 779 435 015
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31.12.2013 Up to 1 year 1 - 5 years Over 5 years Total
1. Contingent liabilities granted and received 18 561 294 3 687 624 879 947 23 128 865
     Commitments granted 18 006 558 2 998 959 724 349 21 729 866
       1. Financing 15 836 732 2 163 996 531 559 18 532 287
           a) Loan commitments 15 813 281 2 073 508 521 133 18 407 922
           b) Operating lease commitments 23 451 90 488 10 426 124 365
       2. Guarantees and other financial facilities 2 160 567 834 890 192 790 3 188 247
           a) Banker's acceptances 2 765 - 209 2 974
           b) Guarantees and standby letters of credit 2 035 596 828 110 192 581 3 056 287
           c) Guarantees of issues underwritten 35 000 - - 35 000
           d) Documentary and commercial letters of credit 87 206 6 780 - 93 986
       3. Other commitments 9 259 73 - 9 332
     Commitments received 554 736 688 665 155 598 1 398 999
           a) Financial commitments received 3 375 207 360 - 210 735
           b) Guarantees received 551 361 481 305 155 598 1 188 264
2.

Derivative financial instruments
(nominal value of contracts)

328 340 664 253 718 640 20 620 014 602 679 318
       1. Interest rate derivatives 293 192 365 245 105 506 20 568 945 558 866 816
       2. Currency derivatives 33 809 749 8 517 321 12 190 42 339 260
       3. Market risk derivatives 1 338 550 95 813 38 879 1 473 242
      Total off-balance sheet items 346 901 958 257 406 264 21 499 961 625 808 183
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The above operating lease liabilities relate to the lease of buildings.

The leasing agreement for the Bank's headquarters is the most important leasing agreement concluded by the Bank. According to the agreement, the leasing period ends on 30 June 2019. The agreement has been concluded for a definite period and, in principal, is not subject to early termination. The agreement provides for the possibility of purchasing the leased object upon a written application of the lessee at least 6 months and no more than 12 months prior to the termination of the leasing agreement, as well as the pre-emptive right under the conditions specified in the agreement. Under the agreement, the Bank shall ensure proper maintenance of the object of leasing.

The nominal values of derivatives are presented in Note 20.

As at 31 December 2014, apart from financial commitments granted by the Bank, the largest impact on the amount of financial commitments granted had commitments granted by mBank Hipoteczny and mFaktoring respectively in amount of PLN 1 085 818 thousand and PLN 1 044 410 thousand (31 December 2013 respectively: PLN 979 471 thousand and PLN 1 125 242 thousand).